Interest rate, also known as interest rate, is the ratio of interest to principal in a certain date, which is generally divided into annual interest rate, monthly interest rate and daily interest rate. The annual interest rate is expressed as a percentage, the monthly interest rate is expressed as one thousandth and the daily interest rate is expressed as one thousandth. If the annual interest rate of 9% is written as 9%, that is to say, every deposit of 1000 yuan gets a regular annual interest rate of 9 yuan, and the monthly interest rate of 6% is written as 6‰, that is, the monthly interest rate of every deposit of1000 yuan is written as 6 yuan, and the daily interest rate is written as 1%, that is, every/kloc. At present, savings deposits in China are listed at the monthly interest rate. In order to facilitate interest calculation, three kinds of interest rates can be converted, and the conversion formula is: annual interest rate ÷ 12= monthly interest rate; Monthly interest rate ÷30= daily interest rate; Annual interest rate ÷360= daily interest rate.
2. What is the calculation formula of the bank loan interest calculator?
Bank loan interest rate calculator
1. Accumulate the account balance daily according to the actual number of days, and multiply the accumulated product by the daily interest rate to calculate the interest. The interest-bearing formula is:
Interest = cumulative interest-bearing product × daily interest rate, where cumulative interest-bearing product = total daily balance.
2. Transaction-by-transaction interest calculation method calculates interest one by one according to the preset interest calculation formula: interest = principal × interest rate × loan term, with three details:
If the interest-bearing period is a whole year (month), the interest-bearing formula is:
① Interest = principal × year (month )× year (month) interest rate
If the interest-bearing period is a whole year (month) and days, the interest-bearing formula is:
② Interest = principal × year (month) × year (month) interest rate principal × odd days × daily interest rate.
At the same time, banks can choose to convert all interest-bearing periods into actual days to calculate interest, that is, 365 days per year (366 days in leap years), and each month is the actual number of days in the Gregorian calendar of the current month. The interest-bearing formula is as follows:
③ Interest = principal × actual days × daily interest rate
These three formulas are essentially the same, but because the interest rate conversion is only 360 days a year, when calculating the actual daily interest rate, it will be calculated as 365 days a year, and the result will be slightly biased. Which formula is used specifically, the central bank gives financial institutions the right to choose independently. Therefore, the parties and financial institutions can agree on this in the contract.
3. compound interest: compound interest means adding interest at a certain interest rate. According to the regulations of the central bank, if the borrower fails to repay the interest at the time agreed in the contract, it will be charged with compound interest.
4. Penalty interest: If the lender fails to repay the bank loan within the prescribed time limit, the penalty interest paid by the bank to the non-defaulting party according to the contract signed with the parties is called bank penalty interest.
5. loans overdue liquidated damages: the nature is the same as penalty interest, and it is a punitive measure for the defaulting party.
Three. Loan interest calculator 20 17
If you apply for a loan from China Merchants Bank, to calculate the loan amount, you need to know the loan principal, loan term, repayment method and loan interest, which can be calculated by the "financial calculator" found at the lower right of official website.
Four. Loan interest calculator 20 17
If you have applied for a personal commercial loan with China Bank, the interest is calculated as follows: Scheme 1: The benchmark interest rate is the RMB loan interest rate announced by the People's Bank of China on that day, which can fluctuate according to the customer's situation and loan type. Please consult your local business outlets for details. Scheme 2: You can search for "Bank of China Weizhong Bank" or "bocebanking" in WeChat official account through Tencent WeChat client, pay attention to and open the location information, and then use Weizhong Bank service to calculate interest. Click on micro-service-financial tools in Weizhong Bank to find relevant calculation tools, including deposit calculator, loan calculator, investment calculator, exchange rate converter and other calculators (personal income tax). The above contents are for your reference. Please refer to the actual business regulations. If you have any questions, please contact online customer service of Bank of China. You are cordially invited to download and use China Bank Mobile Banking APP or China Bank Cross-border GOAPP to handle related business.